Cocoa profits beat even bitcoin returns in the US

Among the main exchange-traded commodities, cocoa turned out to be the most profitable in 2024, surpassing even bitcoin and even the US stock market, after its prices jumped 2.85 times to $ 11,954 per ton, analysts of the electronic publication MarketWatch commented. Meanwhile, bitcoin rose 2.28 times, while the S&P 500 index rose by only 25%. Moreover, there is no sign that the rise in the price of the product used in the production of chocolate will end, after the past season ended with the largest shortage in its supply worldwide - according to the International Cocoa Organization, it reached 478 thousand tons after a 13.1% drop in production on an annual basis, while demand remained stable. A major factor in the poor harvest was unfavorable weather conditions in West Africa, which is among the main production regions in the world. For several years now, the trees have been suffering from high temperatures. Wet weather in parts of West Africa in October dealt them another blow, ...